IN THE MATTER OF JitneyTrade Inc. - Settlement Accepted

MONTRÉAL, July 23, 2013 /CNW/ - On April 26, 2013, a Hearing Panel of
the Investment Industry Regulatory Organization of Canada (IIROC)
accepted a Settlement Agreement, with sanctions, between IIROC staff
and JitneyTrade Inc.

JitneyTrade Inc. admitted that it failed to implement an appropriate
trade supervision system reasonably well designed to prevent and detect
violations of UMIR requirements for the size and nature of its Direct
Access Clients' business.

Specifically, JitneyTrade Inc. admitted to the following violation:

(a)

Between February 2010 and September 2010 and between February 2011 and
February 2012, JitneyTrade Inc. failed to implement an appropriate
trade supervision system reasonably well designed to prevent and detect
violations of UMIR requirements for the size and nature of its Direct
Market Access Clients' business, contrary to UMIR 7.1 and Policy 7.1.

Pursuant to the Settlement Agreement, JitneyTrade Inc. agreed to the
following penalty:

(a)

A fine of $90,000.

JitneyTrade Inc. also agreed to pay IIROC costs in the amount of
$10,000.

Documents related to ongoing IIROC enforcement proceedings - including
Reasons and Decisions of Hearing Panels - are posted on the IIROC
website as they become available. Click here to search and access all IIROC enforcement documents.

IIROC formally initiated the investigation into JitneyTrade Inc.'s
conduct in September 2010. The violations occurred when JitneyTrade
Inc. was an IIROC-regulated firm. JitneyTrade Inc. is still an
IIROC-regulated firm.

* * *

IIROC is the national self-regulatory organization which oversees all
investment dealers and trading activity on debt and equity marketplaces
in Canada. Created in 2008 through the consolidation of the Investment
Dealers Association of Canada and Market Regulation Services Inc.,
IIROC sets high quality regulatory and investment industry standards,
protects investors and strengthens market integrity while maintaining
efficient and competitive capital markets.

IIROC carries out its regulatory responsibilities through setting and
enforcing rules regarding the proficiency, business and financial
conduct of dealer firms and their registered employees and through
setting and enforcing market integrity rules regarding trading activity
on Canadian equity marketplaces.

IIROC investigates possible misconduct by its member firms and/or
individual registrants. It can bring disciplinary proceedings which may
result in penalties including fines, suspensions, permanent bars,
expulsion from membership, or termination of rights and privileges for
individuals and firms.

All information about disciplinary proceedings relating to current and
former member firms is available in the Enforcement section of the IIROC website. Background information regarding the
qualifications and disciplinary history, if any, of advisors currently
employed by IIROC-regulated firms is available free of charge through
the IIROC AdvisorReportservice. Information on how to make investment dealer, advisor or
marketplace-related complaints is available by calling 1 877 442-4322.